2 Tax-Efficient Savings Strategies for Right Now: Tax Season Lesson, Pt. 2

Because every client’s needs are unique, a canned approach to tax-efficient savings of Roth IRAs, traditional IRAs, 401(k), 403(b), NQ annuities, NQ accounts, etc., is not necessarily the most flexible or tax efficient option for every client. As advisors, we know that the words “tax-free” don’t always mean there’s no tax ever paid, just like the term “pre-tax” doesn’t mean there’s always more tax to be paid later.

Andy Gives a Presentation to UAB Periodontal Students

In May, Andy was invited to give a presentation to the UAB Dental and Periodontal Residents regarding financial tips and information beneficial to decisions they will face, both personal and professional, once they are out of school and working.  Among the topics Andy explained were how to choose a mortgage and the options and benefits associated with each of them, seeking partnerships, evaluating partnership offers, investing for their future and smart decision making from the beginning.  The students

New 401k Disclosure Requirements

In a little less than two months from now the new 408(b)-2 regulations take effect and retirement plan sponsors and plan committees will need to begin evaluating information from plan service providers.  Despite the inherent difficulties of a plan sponsors, usually the business owner or high level executive, evaluating plan services, compensation and arrangements, there are considerable opportunities coming for those businesses that understand who is a fiduciary and the levels of protection provided by investment advisors who willingly serve as fiduciaries.

Money Management Service

Thinking of a Hardship Distribution

Are you thinking about taking a hardship distribution from your 401k? For many Americans facing uncertain economic times, loans and hardship withdrawals from retirement savings are on the rise according to a recent study done by Fidelity Investments. While this may be the only option for some facing foreclosure or bankruptcy, there are a few things that need to be considered before you take that withdrawal.

Money Management Service

The 401k Plan Beneficiary Payout Issue

How does your 401k plan dictate beneficiary payouts? Some retirees have chosen to leave their retirement assets sitting in their 401k plans instead of rolling it over to an IRA once they retire. However, most retirees aren’t aware of their former Employers policies and procedures in regards to beneficiary payouts. Some companies may allow the beneficiary account to remain within the plan, most will require a beneficiary to take a “Lump Sum only” option, or be subject to the “5 year payout rule”